Payworld

Payworld offers smart assisted solutions to the untouched market segments in India through an intelligent electronic transaction processing platform. It has a presence across India with 62,000 active retail touch points, and more then 100 million transactions every year, it makes consumers life simple through easy utility payments for Domestic Money Remittance, Mobile and DTH recharges, Rail, Air and Bus reservation and Utility Bill collections, Digital Wallets, Cash withdrawal points. Payworld also acts as a Corporate Agent (Life) for Future Generali India Life Insurance Company Limited to provide life insurance solutions in India.

Iksula helped Payworld by analyzing the customer behavior as well as the retailer performance. Retailers play a major role in Payworld’s engagement with their end customers. Using custom models based on business volume and retailer retention, Iksula was able to perform the retailer segmentation to divide them into 7 different segments. This made it easy to target a particular segment of retailers with certain actions that will be beneficial for Payworld. During customer analysis, Iksula identified the parameters that affect customer behavior and employed LTV (Lifetime Value) modelling to calculate customer retention. Based on this we suggested services that can be cross sold to customers to increase their retention and thus, Payworld’s revenue.